SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2014
SUBSEQUENT EVENTS	21. SUBSEQUENT EVENTS On November 5, 2014, the Company amended the Management Agreement with the Manager. The Management Agreement provided for an initial term through December 31, 2014 with automatic one-year renewals unless at least two-thirds of the Company’s independent directors or the holders of a majority of the Company’s outstanding shares of common stock elected to terminate the agreement in their sole discretion and for any or no reason. If the election was made to terminate the Management Agreement, the Company was required to deliver to the Manager prior written notice of the Company’s intention to terminate the Management Agreement no less than 180 days prior to the date designated by the Company on which the Manager would cease to provide services. The Management also provided that the Manager could terminate the Management Agreement to providing to the Company prior to notice of its intention to terminate the Management Agreement no less than 180 days prior to the date designated by The Manager on which the Manager would cease to provided services. The amendment to the Management Agreement provides for a two year term ending December 31, 2016 with automatic two-year renewals unless at least two-thirds of the Company’s independent directors or the holders of a majority of the Company’s outstanding shares of common stock elect to terminate the agreement in their sole discretion and for any or no reason. At any time during the term or any renewal term the Company may deliver to the Manager written notice of the Company’s intention to terminate the Management Agreement. The Company must designate a date not less than one year from the date of the notice on which the Management Agreement will terminate. The amendment to the Management Agreement also provides that the Manager may terminate the Management Agreement by providing to the Company prior written notice of its intention to terminate the Management Agreement less than one year prior to date designated by the Manager on which the Manager would cease to stop provide services or such earlier date as determined by the Company in its sole discretion. All of the other terms of the Management Agreement remain unchanged.

21. SUBSEQUENT EVENTS

On November 5, 2014, the Company amended the Management Agreement with the Manager.

The Management Agreement provided for an initial term through December 31, 2014 with automatic one-year renewals unless at least two-thirds of the Company’s independent directors or the holders of a majority of the Company’s outstanding shares of common stock elected to terminate the agreement in their sole discretion and for any or no reason. If the election was made to terminate the Management Agreement, the Company was required to deliver to the Manager prior written notice of the Company’s intention to terminate the Management Agreement no less than 180 days prior to the date designated by the Company on which the Manager would cease to provide services. The Management also provided that the Manager could terminate the Management Agreement to providing to the Company prior to notice of its intention to terminate the Management Agreement no less than 180 days prior to the date designated by The Manager on which the Manager would cease to provided services.

The amendment to the Management Agreement provides for a two year term ending December 31, 2016 with automatic two-year renewals unless at least two-thirds of the Company’s independent directors or the holders of a majority of the Company’s outstanding shares of common stock elect to terminate the agreement in their sole discretion and for any or no reason. At any time during the term or any renewal term the Company may deliver to the Manager written notice of the Company’s intention to terminate the Management Agreement. The Company must designate a date not less than one year from the date of the notice on which the Management Agreement will terminate. The amendment to the Management Agreement also provides that the Manager may terminate the Management Agreement by providing to the Company prior written notice of its intention to terminate the Management Agreement less than one year prior to date designated by the Manager on which the Manager would cease to stop provide services or such earlier date as determined by the Company in its sole discretion.

All of the other terms of the Management Agreement remain unchanged.